Finding a good plan administrator for a small-business 401(k) program is a process fraught with peril. Putting clients in a plan with limited portfolio choices, poor customer service and high fees could lead to early retirement — of the financial advisor. How to avoid this fate? A Web site, 401kexchange.com, rates plan administrators by fees, record keeping, customer service and other criteria, using employee survey data. Below are the eight plans that are rated AAA, its highest ranking:
Charles Schwab & Co.
CUNA Mutual Life
Baden Retirement Plan Services
Union Central Retirement Services
T. Rowe Price
John Hancock Financial Services